Chris Dixon over on his blog had an interesting quote in a post addressing the sizing of markets:
As an entrepreneur, you shouldn’t raise VC unless you truly believe a narrative where your company is a billion dollar business.
The funny part is that I’ve found that entrepreneurs overestimate their startups potential market size and underestimate how difficult it is to acquire even a small percentage of that market.
I asked him if he [Paul Rand] would come up with a few options and he said ‘No, I will solve your problem for you and you will pay me. You don’t have to use the solution. If you want options, go talk to other people.’
– Steve Jobs (1993 interview)